People continually say that the Utah County market is stable. 

The media keeps reporting all this wonderful news. Are you ready for the facts?  Do you want to know what is going on with actual facts.  I have been selling homes in Utah County for 16 years full time.  I love Utah County and I especially love selling homes.  I look forward to the day that this market strengthens.  However, this will not be for a very long time. 

This market reminds me of the mid to late 90's.  Homes sat on the market for quite a while before selling.  The only difference is this market is filled with short sales and bank foreclosures.   Most buyers are only interested in short sales or repos. 

I would like to focus on the average percentage of homes sold each month in Utah County.  My data is comprised of accurate statistical data gathered from the Utah County Association of Realtors.  We know that the last great real estate year in Utah County was 2006.  I would like to start with this year.

In 2006, exactly 7,429 homes were sold.  This was 19% of the listed inventory.  If real estate is a feast or famine industry this is the feast part.  The percentage of homes sold declined in 2007 to 10.4% then to 7.6% in 2008.  The market found a new bottom in 2008.  However, in 2009 it moved slightly up to 10.2%.  This is not much of a bounce from the earlier 2008 bottom of 7.6%. 

This is where it gets interesting.  In 2010 the percentage of homes selling went to an average of 9.4%.  The percentage of homes selling dropped from 2009 to 2010.  This is a fact!  The amount of homes dropped from 5,149 sold in 2009 to 4,721 in 2010.  I can pile a bunch of jelly beans on my counter and my four year old Keira will tell you which pile has more jelly beans.  I am flabbergasted when I read sugar coated articles from the local media claiming the market is rebounding.  It is not true and they have no true facts behind their hollow claims. 

The graphs below are compiled from the Utah County Association of Realtors.

  These graphs don't show our last boom year of 2006.  An interesting part of the graph to note is April of 2010.  Our market was like really trying to improve.  Things were going great until the government started offering the tax incentives.  It killed the late 2010 spring and summer.  They pumped in all the fence sitter buyers.  After this time many buyers sat and waited for another incentive.  It is my opinion that the government should get out of the real estate business and work on their massive debt problem.  They did a pump and dump and it really hurt everyone buying and selling homes in Utah County.






Our population grows in Utah County from year to year.  Rates hit an all time low in 2010.  This means all things being equal we should of seen a slight increase in homes sold.  We didn't.  The market is slightly weakening and prices are STILL in a slight decline.

This has not stopped me from buying a rental last month in Springville, Utah .  Rentals can actually have a nice cashflow.  It is a wonderful time to build up a rental portfolio or buy a home.  It will be difficult to catch the exact bottom of this market.  I don't know when the bottom will truly arrive.  The bottom did not arrive in 2008 because prices are lower in 2011 than in 2008.  In time rates will skyrocket and getting a loan may actually be more difficult.  If you are buying in this market buy smart.  I would be happy to help you locate value and get an amazing deal on a home.  Feel free to search our live MLS home search.  If home sold statistical data in Utah County interests you I think you will like the section on UtahCountyLIstings.com about statistics.


Welcome to my Utah County Real Estate blog!  We are located  in Mapleton, Utah.  Our team combines proven traditional real estate practices and represents the leading edge in the future of real estate marketing by merging internet technologies, service, communication, information and analysis with those traditional practices to provide our clients with an exceptional real estate experience and superior marketing.

Paul Teasdale, Principal Broker
ABR, CRS, e-PRO, QSC, Finance  BYU
16 Years Experience, 850+ Homes Sold
Team Teasdale Realty, Utah County Real Estate
Phone: 801-491-7653